Short Interest in NextTrip, Inc. (NASDAQ:NTRP) Increases By 146.5%

NextTrip, Inc. (NASDAQ:NTRP) was the target of a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 61,230 shares, a growth of 146.5% from the May 31st total of 24,839 shares. Based on an average daily trading volume, of 69,798 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.8% of the shares of the company are sold short.

NextTrip Price Performance

NTRP traded down $0.12 during midday trading on Monday, reaching $1.99. 114,853 shares of the company’s stock were exchanged, compared to its average volume of 68,435. The firm has a market capitalization of $28.78 million, a price-to-earnings ratio of -1.06 and a beta of 1.03. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.02. NextTrip has a one year low of $1.80 and a one year high of $5.20. The business has a 50-day simple moving average of $2.40 and a two-hundred day simple moving average of $2.91.

Analysts Set New Price Targets

Several equities analysts recently weighed in on NTRP shares. Zacks Research raised NextTrip to a “hold” rating in a research report on Tuesday, March 17th. Weiss Ratings downgraded NextTrip from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 4th. Finally, Ascendiant Capital Markets upped their price target on NextTrip from $7.00 to $7.50 and gave the stock a “buy” rating in a report on Wednesday, June 10th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, NextTrip has a consensus rating of “Hold” and an average target price of $7.50.

Insider Buying and Selling at NextTrip

In other news, Director David T. Jiang bought 18,200 shares of the business’s stock in a transaction on Thursday, June 18th. The stock was purchased at an average price of $2.75 per share, with a total value of $50,050.00. Following the transaction, the director directly owned 1,582,157 shares in the company, valued at approximately $4,350,931.75. The trade was a 1.16% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Andrew Jay Kaplan purchased 18,182 shares of the firm’s stock in a transaction on Friday, May 8th. The shares were purchased at an average price of $2.75 per share, with a total value of $50,000.50. Following the completion of the acquisition, the director directly owned 51,582 shares of the company’s stock, valued at approximately $141,850.50. This trade represents a 54.44% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 44.50% of the stock is currently owned by corporate insiders.

Institutional Trading of NextTrip

An institutional investor recently raised its stake in NextTrip stock. Geode Capital Management LLC raised its stake in NextTrip, Inc. (NASDAQ:NTRP) by 21.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 39,852 shares of the company’s stock after acquiring an additional 7,086 shares during the period. Geode Capital Management LLC owned about 0.29% of NextTrip worth $129,000 as of its most recent SEC filing. Institutional investors own 3.81% of the company’s stock.

NextTrip Company Profile

NextTrip, Inc, through its subsidiaries, engages in the provision of travel technology solutions in the United States. The company offers NXT2.0, a booking engine technology platform, which provides travel distributors access to an inventory. It is also involved in the provision of online leisure travel agency services for booking hotels, flights, and curated vacations. The company was formerly known as Sigma Additive Solutions, Inc and changed its name to NextTrip, Inc in March 2024. NextTrip, Inc is based in Sunrise, Florida.